The Dallas Commercial Real Estate Market

Shanti Ryle

May 13, 2025

The cityscape of Dallas, TX with its downtown skyline

Dallas stands tall as one of the nation’s most vibrant and fast-growing commercial hubs, a city where opportunity thrives across industries and neighborhoods. With its booming population, pro-business climate, and diverse economy, Dallas continues to attract investors, developers, and companies seeking long-term growth in the heart of Texas. From Uptown high-rises to expansive industrial parks in the Metroplex, demand for commercial real estate remains strong, fueled by the city’s strategic location and reputation as a business-friendly powerhouse.

Principals, tenants, brokers, buyers, and landlords alike harness the power of Crexi’s commercial real estate tools to succeed in Dallas. Nationwide, investors and businesses look to Dallas as a thriving market with stable fundamentals, promising growth, and attractive cap rates. Crexi equips prospective investors with in-depth market research, a growing inventory of properties, and fast access to Dallas-specializing brokers.

In Dallas, Fort Worth, and the surrounding cities, brokers harness Crexi’s listing, lead management, and marketing tools to win deals. Actively seeking principals and tenants encompass approximately 92% of Crexi’s online traffic, using the platform to pursue their next investment.

As of this posting, Crexi's tools have supported more than $615 billion nationally in property transactions. Since its 2016 launch, the platform has marketed properties totaling more than $7 trillion in value.

Crexi proudly serves Dallas, Fort Worth, Arlington, Plano, and the Metroplex's entirety as the fastest-growing online commercial real estate marketplace.

Another angle of Dallas' downtown skyline during the day

The State of Dallas Commercial Real Estate

Located in the heart of North Texas, the Dallas–Fort Worth Metroplex stands as one of the largest and most dynamic economic engines in the country. Known for its bold mix of urban energy and suburban appeal, the region is home to thriving business districts with diverse neighborhoods, cultural landmarks, and expansive green spaces.

Dallas has long been a magnet for companies and talent across industries, from finance and healthcare to tech and logistics. Its diverse economy continues to drive demand for commercial space, supported by a growing population, strong job market, and a steady influx of corporate relocations. With a deep pool of educated workers and world-class universities nearby, the Metroplex remains an attractive destination for businesses looking to scale and innovate.

Across its bustling downtown core and fast-growing suburbs, Dallas offers opportunity at every turn. The region’s infrastructure, quality of life, and economic resilience have positioned it as a leading market for real estate investment and development. As the Metroplex expands, new projects and redevelopment efforts continue to reshape the landscape, reinforcing Dallas–Fort Worth’s reputation as a forward-looking hub for business and commerce.

Dallas Regional Breakdown

Everything’s bigger in Texas - and the Dallas–Fort Worth metro area is no exception. Home to more than 8 million people and growing fast, the region blends big-city ambition with hometown charm, attracting new residents, businesses, and investors every day. From Dallas’s bustling urban core to Fort Worth’s Western roots and the thriving suburbs in between, the Metroplex continues to draw talent and capital with its strong economy, diverse communities, and unbeatable opportunities. As the population climbs and incomes rise, Dallas–Fort Worth is cementing its place as one of the nation’s most dynamic and competitive commercial real estate markets.

Dallas/Fort Worth is home to over 8.1 million in the metro area, with the Dallas-Fort Worth-Arlington Metro Area ranked as the third largest-gaining metro area in America.
Dallas is home to 1.3 million, boasting a population increase of 8.5% since 2010.
Fort Worth has a population of over 976,000, growing by nearly 17% in the last decade alone.
Other major cities in the metroplex include Arlington, Plano, Irving, Denton, Richardson, and Grapevine.
The median age in Dallas/Fort Worth is 35.8, about 90% of the figure in the US.
The per capita income is $45,033, and the median household income is $86,860, both of which are higher than the amount in the United States.
About 15% of the households earn over $200,000 per year, according to CensusReporter.org.

A closeup of a significant building in downtown Dallas

Dallas Job Market

The Dallas–Fort Worth metroplex is firing on all cylinders, cementing its reputation as one of the nation’s strongest and most diverse job markets. With a $745 billion economy and an employed workforce topping 4.3 million, the region continues to fuel growth across industries - from tech and finance to aerospace, healthcare, and logistics.

Unemployment sits consistently low, even as national trends show signs of slowing, highlighting the Metroplex’s resilience and opportunity. Home to major employers like AT&T, Lockheed Martin, and Texas Health Resources, Dallas–Fort Worth offers a powerful mix of innovation, talent, and business-friendly conditions that keep companies and workers flocking to the region.

Total Gross Domestic Product for Dallas-Fort Worth-Arlington is nearly $745 billion, soaring by more than 36% over the past five years, based on data from the St. Louis Federal Reserve (FRED).
Employed population of the metroplex is 4.36 million, according to the US Bureau of Labor Statistics (BLS March 2025).
The unemployment rate in Dallas/Fort Worth is 3.8%, near historic all-time lows.
Dallas/Fort Worth continues to expand industries and add new job opportunities, even as the national labor market encounters uncertainty .
The region’s largest employers include AT&T, Energy Transfer, Texas Health Resources, Lockheed Martin, University of Texas Southwestern Medical Center, Medical City Healthcare, and Bank of America.
The region's key industry sectors are advanced services, aviation and aerospace, financial activities, food, health care, high tech, hospitality, life sciences, logistics, and manufacturing.
Since the start of 2021, nearly 20 companies, including prominent names like AECOM and Frontier, have relocated their corporate headquarters to Dallas.
The area has also led the market in commercial real estate transactions, with $19 billion traded in 2023 alone, marking the third consecutive year Dallas/Fort Worth has topped this metric.
Additionally, Fort Worth is pioneering adaptive reuse by converting vacant downtown office buildings to address its affordable housing crisis, signaling an innovative approach to urban development and sustainability.
The metroplex is home to three educational giants: the University of Texas at Dallas, known for its strong research programs and business school; Texas Christian University, celebrated for its vibrant campus life and academic excellence; and the University of North Texas, a hub for creativity and innovation with a renowned music program.
Nearly 40% of residents hold a bachelor’s or an advanced degree, a rate about 10% higher than the US figure.
The metro area boasts a comprehensive transportation network, including major interstates like I-20, I-30, and I-35, the Dallas/Fort Worth International Airport (DFW) - one of the largest and busiest airports in the world, and extensive public transit options provided by DART.
Austin, Houston, San Antonio, and Oklahoma City are all within a one-day drive of the Dallas/Fort Worth metroplex.

A watertower and a few commercial buildings in downtown Dallas

Dallas Industrial Market

The Dallas–Fort Worth industrial market continues to showcase its strength, driven by steady demand, robust construction, and the region’s strategic role as a national logistics hub. With its central location, expansive infrastructure, and access to key transportation networks, DFW remains a top destination for companies seeking modern industrial space.

Even as new deliveries hit the market, strong absorption and leasing activity highlight the ongoing appetite for well-located, high-quality facilities across the Metroplex. From large-scale distribution centers to last-mile logistics hubs, the industrial sector is powering forward, cementing Dallas–Fort Worth’s reputation as a critical center for commerce and supply chain operations.

Market overview (Cushman & Wakefield Q1 2025)

Inventory: 1,017,849,122 SF
Vacancy rate: 9.7
Absorption: 6,468,554 SF (YTD)
Leasing activity: 13,862,517 SF (YTD)
Key leases by tenant: Lennox (1.2 million SF), Greenbox Systems (1 million SF), Quality Tube (852,987 SF)
Completions: 5,714,530 (YTD)
Under construction: 19,891,670 SF
Largest submarkets: Great Southwest, DFW Airport, South Dallas, Alliance

Crexi Insights

These are the most recent Dallas industrial lease and sales trends from Crexi Insights (as of May 2025):

For Lease (active)

Asking rate/SqFt (median): $10 per year
Median SqFt/listing: 5,625
Days on market: 180
Total listings on Crexi: 285 spaces

For Sale (active)

Median asking price: $1.7 million
Price/SqFt: $141
Asking cap rate: 6%
Days on market: 175
Total listings on Crexi: 113

Sales Comps (past 12 months)

Median sold price: $1.7 million
Sold price/SqFt: $147
Total sales volume: $1.9 billion
Median SqFt sold/transaction: 12,000
Total SqFt sold: 4.4million
Days on market (median): 1,105

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A trolly rolling through Downtown Dallas around its offices

Dallas Office Market

The Dallas–Fort Worth office market is showing early signs of a turnaround, posting its first quarter of positive absorption in more than two years - a promising shift after a stretch of market challenges. While vacancy remains elevated, renewed leasing activity and growing demand for well-located, high-quality space are helping stabilize the landscape. From corporate headquarters to flexible, amenity-rich offices, businesses across the Metroplex are rethinking their footprints and fueling new momentum. Backed by a diverse economy and resilient job market, Dallas–Fort Worth’s office sector is positioning itself for a gradual but steady recovery.

Market overview (Cushman & Wakefield Q1 2025)

Inventory: 237,828,792 SF
Vacancy rate: 25.1%
Net absorption: 272,890 SF (YTD)
Leasing activity: 3,324,316 SF (YTD)
Key leases by tenant: GEICO (165,107 SF), WeWork/Amazon (148,556 SF), Sally Beauty (144,517 SF)
Under construction: 2,060,626 SF
Largest submarkets: Las Colinas, Legacy/Frisco, Richardson/Plano, CBD Core

Crexi Insights

For the latest updates on the Dallas/Fort Worth office market, turn to Crexi Insights. Here is the detailed information on recent sales and leasing trends as of May 2025

For Lease (active)

Asking rate/SqFt (median): $17 per year
Median SqFt/listing: 1,589 SF
Days on market: 291
Total listings on Crexi: 1,839 spaces

For Sale (active)

Median asking price: $1.1 million
Price/SqFt: $153
Asking cap rate: 7.2%
Days on market: 235
Total listings on Crexi: 70

Sales Comps (past 12 months)

Median sold price: $1.9 million
Sold price/SqFt: $163
Total sales volume: $199.8 million
Median SqFt sold/transaction: 9,682SF
Days on market (median): 337

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A few from beyond multiple freeways of Dallas' downtown skyline

Dallas Retail Market

The Dallas–Fort Worth retail market continues to hold steady, buoyed by resilient consumer demand and consistent leasing activity across key shopping and entertainment districts. Even as economic headwinds shape national trends, retailers in the Metroplex are securing space in high-traffic locations and fueling a steady pipeline of new openings. From neighborhood centers to destination retail hubs, the region’s strong population growth and diverse economy are supporting a vibrant retail landscape, offering opportunities for tenants, landlords, and investors alike as the market evolves.

Market overview (CBRE Q3 2024)

Inventory: 258,259,000 SF
Vacancy rate: 4.6%
Net absorption: 821,000 SF
Key leases by tenant: H-E-B (140,000 SF), Malibu Jack (137,222 SF), Netflix House (110,000 SF), EoS Fitness (70,853 SF) (Partners)
Completions: 831,000 SF
Largest submarkets: Outlying Dallas, Central Dallas, Lewisville, Central Plano

Crexi Insights

Retail lease and sales trends from Crexi Insights (as of May 2025):

For Lease (active)

Asking rate/SqFt (median): $19 per year
Median SqFt/listing: 2,556 SF
Days on market: 300
Total listings on Crexi: 829 spaces

For Sale (active)

Median asking price: $1.9 million
Price/SqFt: $370
Asking cap rate: 6.2%
Days on market: 234
Total listings on Crexi: 162

Sales Comps (past 12 months)

Median sold price: $1.5 million
Sold price/SqFt: $184
Total sales volume: $570.1 million
Sold cap rate: 5.7%
Median SqFt sold/transaction: 5,815 SF
Days on market (median): 134

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A grafitti sign saying "Deep Ellum" in Dallas

Dallas Multifamily Market

The Dallas–Fort Worth multifamily market continues to show remarkable resilience, even as new construction and deliveries remain elevated. Strong renter demand, fueled by ongoing population and job growth, is helping the market absorb new supply and maintain healthy occupancy rates across the Metroplex. Developers and investors are staying active, drawn by the region’s expanding economy and steady housing needs, making the region the leader in U.S. multifamily completions in 2024.